Twenty years after Hurricane Katrina, and after recent wildfires and floods in California and Texas, the cost of protecting your home from climate disasters is becoming a crisis of its own.

A new report from Realtor.com® shows that more than a quarter of U.S. homes — worth $12.7 trillion combined — are at high risk of being hit by hurricanes, wildfires, or floods. And in places where those risks are greatest, the cost of homeowners insurance is skyrocketing, making it harder for people to afford to live there.

Think of it like this: if your house is worth $400,000 and your annual insurance bill is $5,000, you’re paying 1.25% of your home’s value each year just to keep it insured. That number is called the premium-to-market value ratio.

Here are the three cities hit hardest:

By compar

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